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Loans
Money lent to individuals or businesses in return for interest in addition to repayment of principal. Common types of loans include commercial loans, interbank loans, mortgage loans, and consumer loans.
13,117 Questions
How can you figure out if the quoted APR and payment are correct?
The only way I know is to buy a calculator that can figure interest rates. If you have a friend who is an engineer he probably has one.
You can also keep the math simple. If you were to finance a vehicle for $12,000 @ 60mo with no interest or 0% your payments would be $200 a month. At $18,000 they would be $300, $24,000 = $400. Now depending on your current credit situation you will typically want to add anywhere between $45-$85 per month for interest. If you have really bad credit then good luck, you will be looking at substantial interest charges.
Are balloon mortgage payments legal in Missouri?
Yes, they are legal in any state unless the borrower(s) can prove they were deliberately mislead concerning the terms and conditions of the contract or other fraudulent action on the part of the lender can be proved.
What was the Farm Tenancy Act?
What is the maximum interest rate on car loans in florida?
Two answers:
Florida Usury Laws:
18% on loans under $500,000
24% on loans over $500,000
Exception for generally small businesses lending under $25,000 at a time (not applicable to banks or similar financial institutions):
A single business can obtain a license from the state under Chapter 516 to allow them to make loans of less than $25,000 and charge higher rates (also capped) A typical case might involve a used car dealer selling cars under $25,000 that wants to finance them on their own. The maximum rates under this exception are:
30% on the first $2,000 of the loan
24% on the amount between $2,000 and $3,000
18% on the amount between $3,000 and $25,000
If you default on a personal loan what personal property can be taken from you by the loan company?
Personal loan is Unsecured loan, that's Why none of the personal property taken by bank. Its happen only in Secured Loan.
Answer & ClarificationThe lender can take you to court and obtain a judgment lien. Once they have the judgment lien they can take anything you have to satisfy the lien: your car; bank account; home; any real or personal property you own. Some creditors are very persistent and the debt grows very fast with interest and costs. Debt collectors can make your life miserable.
Can you gift a deed of a house to someone if there is still a balance on the mortgage?
Yes. However, the mortgage must be paid. Some mortgage documents contain a clause that requires the balance be paid upon transfer. You should inform the bank of your plans. Perhaps they will allow the grantee to assume the note. Or, if you intend to reserve a life estate, perhaps the bank will allow you to keep making the mortgage payments.
Do you have to be discharged from chapter 7 bankruptcy before you can get an unsecured loan?
As soon as you can find anyone wanting to give you a loan, you can get a loan. As you don't just have no credit, you have certifiably terrible credit and are a bad risk, those wanting to do so are typically out to charge more than even people in better financial situations than you can pay, and to take advantage of you one way or another.
See your question about getting a loan is only part of the issue. You may think getting loans is the hard thing and all you care about....and your entirely wrong....PAYING for the loan is the hard thing. You proved that in your past actions...did you learn from them? And how exactly do you expect to do so? And what exactly is different now from how you expected to do so the last time...and you didn't/couldn't pay...(other than having worse credit and likely now even hasving to be charged more?)
What will happen if an unmarried couple separates and one person stops paying the mortgage?
The other must pay the mortgage or the property will be taken by foreclosure and both credit records will suffer. If one will be paying the mortgage they should sue the other for their interest in the property or buy their interest out. You should consult with an attorney.
Does you parents income count if you are 18yrs old for a student loan?
It depends if you claim yourself for taxes or not. You should chech with your guidance counseler.
Do you have to enroll at a college first before you can apply for financial aid?
absolutely..the financial aid office at your selected institution of higher learning in the main determining party who decides which programs you are eligible for. Also, when filling out the FAFSA, one of the questions asks for the school code. Talk to the financial aid adviser at the school you have in mind.
Can a dealership take a car back due to non-approval after signing contracts?
Non-approval of what? The Car Loan? In that case, yes. If you have no means of paying the loan, credit rating wise, then the dealer certainly isn't going to simply let you keep it without getting paid in return.
Do you have to pay for the balance owe on your car after it is sold at an auction?
WHOM do YOU think should pay?? The govt.?? Of course you have to pay the balance due after the vehicle is sold. That was the point to having you sign a CONTRACT saying you would. Now I am just speculating here, so be patient. It is my understanding that a car loan is a secured loan. That is the car is the collateral in the loan. This is different than a credit card debt if I am correct. It is also my understanding that when you default on a car loan they, the lien holder, take possession of the vehicle. Now once again I am not a lawyer. If the collateral is taken away and is sold for less than money owed by the lien holder...well is anyone following me here. When credit card companies hound you for the balance owed you were able to keep the money, items whatever...it is a unsecured loan. A secured loan is balanced by interest, usually lower due to it is secured and the collateral of the vehicle. To me this is loan sharking. IF the collateral is not sufficient to hold the loan than the lendor should not be able to make the loan, because the lendee has no course of action if the need arise. I could be way off base here and I probably am. But pay attention here people because if this is not right than there is a problem with our system. JUSTTHINKING I am in a similar situation. I leased a car in 2001 and it was a piece of crap. I did not have the car long before I started having problems with it. The transmission went out and everything else was wrong with it. I told the car company to pick up their vehicle because I could not deal with all of the repairs. They gladly took it and kept my downpayment and all of the payments that I had made. Later on they sent me a letter notifying me that the car was going to be sold in an auction. To this day in 2005 they took it to court and sewed me for $10,000. They garnished my checking account. My attorney said that I had to file bankrupcy or else they will keep on hounding me and will be on my record for 10 years. I need to file now because the bankrupcy law is going to change drastically on October 16, 2005. So if you need to file do it now. This is just my opinion an what I was advised on by ny attorney
You will not be able to get the title to a car that still has a loan. The seller will need to pay off the loan before you would be able to get the title. A car title indicates the car is wholly owned by that person. If an individual is trying to sell a car they do not own outright, personally I would run, not walk, away. I would also wonder how many other times they have 'sold' the car????
Wait, lots of people sell cars without having paid off their loan. You have to meet the person at the bank holding the title and make everything happen. this is not that uncommon.
How do you recover money owed if there was no signed agreement?
A verbal contract is legally binding. You can pursue the matter through civil court and sue them for the amount of the loan, but you have the burden of proof. Proof can be a witness to the loan, someone who has overheard the lendee say they owe the money, evidence opf partial payments, a clear timeline...it's touhg to prove a verbal contract case. If you gave them cash it'll be even harder. As they ssaying goes, never lend money you don't ever expect to see again. * Without documented proof such as a contract or promissory note, the lender will need to file any suit in a small claims venue.
What type of financial aid do need to get into Stanford?
First of all, you have to be accepted, and then they decide on aid. Secondly, the will meet all PROVEN need. If you can't pay, they will. Thirdly, Stanford is one of the most generous schools for F.A. Good Luck!
The answer depends on the details that were not included and its a complicated situation. In order for the lender to perfect their interest in the mortgaged real estate, all the owners must sign the note and mortgage.
If your name was on the deed as joint owner before the mortgage was granted and only the other owner signed that mortgage then the bank can only foreclose on the co-owner's half interest if the mortgage isn’t paid. Your half interest would be free of the mortgage. Generally, if you own an interest in real property and don't sign the mortgage, the bank cannot foreclose on your interest in the case of a default since YOU did not transfer your interest to the bank.
If your name was added by deed after the mortgage was granted then your interest in the property is subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage. That means if the sole owner of the property grants a mortgage and then transfers an interest in the property to another person, the bank can demand the full payment of the mortgage- immediately.
If there is no issue with the mortgage being paid and if you acquired a half interest by a valid deed then you will be paid half of the net proceeds if the property is sold. You are also responsible for paying the property taxes.
Besides Georgia how many other states can fire you without cause?
New York, definitely. I'm not sure which others.
You do not understand what is meant by refinancing. Refinancing a mortgage means you borrow at least enough to pay all the existing liens, including mortgages, and the new loan becomes a lien (mortgage) against your property. This will have a serious effect on your chapter 13, assuming there are mortgage arrears included in the plan, or if the plan pays less than 100% to the unsecured. Be sure to review this with an experienced bankruptcy before you try this.
each state is different...in NY state it is 60 days...but the answer for your state can be found in the laws of the state...in NY it is Real Property Law
What happens if you walk away from a mortgage and a home equity loan?
The situation can be so bad that it is a rational decision. However, there are serious consequences that result from walking away from a mortgage. The issue is actually too broad to answer briefly. See the articles in the related links for more information.
The situation can be so bad that it is a rational decision. However, there are serious consequences that result from walking away from a mortgage. The issue is actually too broad to answer briefly. See the articles in the related links for more information.
The situation can be so bad that it is a rational decision. However, there are serious consequences that result from walking away from a mortgage. The issue is actually too broad to answer briefly. See the articles in the related links for more information.
The situation can be so bad that it is a rational decision. However, there are serious consequences that result from walking away from a mortgage. The issue is actually too broad to answer briefly. See the articles in the related links for more information.
You could divide the value of his financial interest into pieces and then give him up to $15,000 worth of ownership each year, falling under your annual gift tax exclusion each year, until he owns the desired percentage of the deed.
Yes.
Can I transfer my house to a trust if I'm still paying it off?
You can convey your property to a trust but the property will still be subject to the mortgage. You must check with your bank before making that change in title. Most banks require an immediate payment of the mortgage when there is a change in ownership. The bank may require that you refinance in the name of the trust.
Yes, there is a program. I know that if you go to the Department of Social Services, they have a program available that will help you to pay for day care:) Good luck and God Bless:)
